PA business transformation expert, Frank Madsen, is quoted in an article in Jyllands-Posten. The article looks at how companies fail to hold on to their digital talent due to outdated talent management approaches. The article draws on PA’s talent management report, ‘The Future is Fluid’, which is based on interviews with 71 CEOs worldwide.
Frank says: “Digitisation places new demands on talent management, but many companies use their talent pools based on old-fashioned approaches to clients and technologies. This means talent are never able to make the most of their capabilities.”
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According to PA’s research, 72 per cent of respondents say their approach to talent management does not use the company strategy as a starting point. In the worst case scenario, this means that the identification, nurturing and development of talent takes place independent of the future needs of the organisation.
“The result may be that the organisation will need talent in the future, especially within specialised areas such as digitisation and innovation,” adds Frank. This suggests that too many companies use a very linear talent management model in which they define talent, evaluate them and identify weaknesses based on the world they know. Usually, challenges are solved during an annual seminar and problems are easily defined and managed, but the model is far too rigid.
Frank concludes: “This model is doomed and doesn’t fit the future at all.”